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Changing Furloughs into Layoffs? Do it properly!

Posted by on December 18, 2020 in COBRA, Human Resources

Employers that are looking to change furloughs into permanent layoffs need to be sure that they are doing so in accordance with regulations set by COBRA and the Worker Adjustment and Retraining Notification (WARN) act. It is important to stay in compliance with the WARN Act and COBRA to ensure your security from fees! When the WARN Act Applies: The WARN Act requires covered employers to provide at least 60 calendar days’ advance written notice of a worksite closing affecting 50 or more employees, or a mass layoff affecting at least 50 employees and one-third of the worksite’s total workforce or 500 or more employees at a single employment site during any 90-day period. An employment loss is defined as a situation where an employee: Is terminated, other than a discharge for cause, voluntary departure, or retirement. Has been laid off for more than six months. Suffers a reduction in...

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Medicare Eligibility: Who pays first?

Posted by on December 2, 2020 in Human Resources, Notices

Message to Employers with employees for whom Medicare is the primary payer PF Compass wants you to know some important rules for your Medicare-eligible employees. Eligible members are encouraged to enroll in Medicare in order to maximize their health plan benefits and minimize expenses. If your employer has an employee headcount of twenty or more employees, a commercial health plan is the primary payer. If your employer has an employee headcount of under twenty employees, Medicare is the primary payer. It’s important for eligible members to enroll in Medicare Once a member is eligible for Medicare as their primary payor, and if they are not enrolled in Medicare, health plans will coordinate benefits with their group coverage and pay benefits as though they were enrolled in Medicare Part B. This means that benefits will be paid by subtracting the amount that Medicare would have paid (usually 80 percent of...

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COVID-19 and COBRA: What does it mean?

Posted by on November 19, 2020 in COBRA, Human Resources

Confused? Many employers are becoming confused amidst the COVID-19 extensions and COBRA deadlines. We are seeing a changing workforce, along with a spike in retirement, layoffs, and furloughs. These events are causing employers to be met with COBRA rules more than ever. If you are confused, don’t worry! We outlined the rules in the following posting and we are always just a click away. COVID-19 and COBRA: The Rules The Federal government has extended certain COBRA deadlines for both group health plans and their plan members due to the current pandemic. These extensions were in response to the national emergency with respect to the coronavirus (COVID19) outbreak (“National Emergency”). The government has provided that the period starting March 1, 2020, and ending 60 days after the announced end of the National Emergency is the “Outbreak Period”. The government has not yet identified the end date of the National Emergency,...

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Guidance on the COVID-19 Vaccination

Posted by on November 13, 2020 in Human Resources, Notices

Important notice concerning guidance on the COVID-19 vaccination has been released by the Departments of Labor (DOL).  This is extremely important to your business, as new advances are being made on the vaccination daily. PF Compass will continue to update on any new information found to keep you and your business updated and informed! The Scoop   On Nov. 6, 2020, the Departments of Labor (DOL), Health and Human Services (HHS), and the Treasury (Departments) published an interim final rule requiring Medicare, Medicaid, and private insurers to cover a COVID-19 vaccine without any cost-sharing, once the Food and Drug Administration (FDA) authorizes and approves a vaccine. COVID-19 Vaccine Coverage for Private Health Plans.  The interim final rule implements the requirement in the Coronavirus Aid, Relief and Economic Security (CARES) Act that non-grandfathered group health plans and health insurance issuers offering non-grandfathered group or individual health insurance coverage provide coverage,...

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Save Time on Enrollment

Posted by on November 11, 2020 in Human Resources

The future of enrollment is here. No longer are the days of chasing down your co-workers for paper forms and trying to read illegible handwriting. With Ease, you can save time on enrollment and much more!

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Caution of Offering Health Coverage to Non-Employees

Posted by on November 4, 2020 in Human Resources

Is offering health coverage to Non-Employees risky? A frequent Compliance Corner question asks whether employers can include independent contractors in their health plans or other benefits.   When dealing with contractors or temporary employees, many think they are not eligible for their health plans or other benefits such as COBRA or FFCRA. The answer to this question is more complicated than one might think. So, is offering health coverage to non-employees risky? The Scoop Most benefit experts advise against including independent contractors or other non-employees such as 1099 employees, non-employee directors, or leased employees on employer’s benefit plans. Here are three (3) reasons why this may be inadvisable: Treating an independent contractor as an employee may undermine an employer’s assertion that the individual is not an employee. The DOL and the IRS, as well as their state counterparts, have aggressive programs to uncover worker misclassification. By offering a non-employee employee...

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Everything to know about COBRA Compliance

Posted by on October 28, 2020 in COBRA

COBRA compliance is a complex process in which many businesses struggle. Many companies are intimidated by the intensive manuals and the strict timelines that come with COBRA compliance. The most effective tool while proceeding with COBRA compliance is knowledge and understanding of the process. In this post, we wanted to lay out the ground rules and basics for COBRA compliance. But, of course, you can streamline the process by contacting us for a COBRA administration consultation that would take care of everything for you! The Basics If you are an employer that holds over 20 employees, federal law requires, and some states as well, that you continue medical care coverage to employees that have separated from the company. There are however a number of things that must be considered to determine who is eligible and what they are to receive exactly. COBRA stands for the Consolidated Omnibus Budget Reconciliation...

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How to Change Benefits Brokers

Posted by on October 23, 2020 in Human Resources

Many businesses receive poor consulting or service from their brokers. But why don’t they make a change and shift to a new brokerage? Well, it’s mostly because they believe that changing brokerages is a difficult and lengthy process. A process that is full of paperwork, tons of communication, and significant changes to their original plans. But we are here to tell you that it isn’t! In fact, PF Compass makes switching brokers very easy! Let’s explain why you shouldn’t dread changing brokers. You Don’t Have to Switch Insurance Carriers or Benefits Packages There is a large misconception that when you switch brokerages, you have to switch insurance carriers as well as change benefits packages. To many businesses, this would be a headache and a large inconvenience. But, that’s not the case. You can keep the same insurance carriers as well as benefits packages. All you have to do is...

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March 2020 Newsletter

Posted by on March 1, 2020 in Newsletters

Dear Valued Clients and Associates, The Spring Equinox is March 19; a time of renewal, it is the day of the year that light and dark are balanced. Symbolizing a time of regrowth and rebirth, it is a great time of year to regroup and re-prioritize! From spring cleaning to religious ceremonies and rituals, how do you welcome the longer, warmer days to come? Would you like to discuss your company’s group insurance options? Interested in assistance navigating the available employee benefits options? We have been working with businesses for over 20 years and hold a 98% retention rate! If you’d like to learn how we can help you reach your employee benefits and compliance goals, let’s chat! Give me a call today 732-258-1032. Here is your March 2020 Newsletter with a combination of HR and Health related news. I hope you enjoy!     Coronavirus Prompts More Companies...

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February 2020 Newsletter

Posted by on February 1, 2020 in Newsletters

Dear Valued Clients and Associates, February is a month of hearts, love and valentine’s; it also happens to be the month my Grandmother was born and this year, she’s celebrating 91! I’m excited to head to Maine in a couple weeks to see her and soak up all the love I can get from my family there. Speaking of love, how do you feel about your benefits broker? You may like your broker, but are they really servicing your organization and your employees the way they should be or are they just collecting their commission and not offering you value-add services? Do your employees have direct access to your broker for help with claims questions and adjudication or do your employees have to call the carrier directly? Do they provide you with access to HR and compliance tools? Does your broker include an online benefits administration option? Does your...

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